KER UPDATE ON THE MANDATORY SELL-OUT PROCEEDING

Kernel Holding S.A., a Luxembourg-registered company (the "Company"), hereby informs that, in the context of the mandatory sell-out proceeding (disclosed in current report no. 12/2025 dated 29 July 2025), the Company has received a letter from the Commission de Surveillance du Secteur Financier (the "CSSF").
The CSSF's letter follows oppositions lodged by shareholders against the proposed sell-out price. In its communication, the CSSF has requested the Company to propose five independent experts who fulfill the conditions set forth in Article 5, paragraph 4, sub-paragraph 2 of the Luxembourg Law of 21 July 2012. This request is for the purpose of the CSSF appointing an expert to submit a valuation report on the Company’s shares. The Company is taking the necessary steps to comply with the CSSF's request.